Union Finance Minister Arun Jaitley moves GST bill for discussion in Rajya Sabha

Union Finance minister Arun Jaitley moved Goods and Service Tax (GST) Bill  in Rajya Sabha on Wednesday for discussion and passage. The GST Council had already approved the rest of the rules on March 31 needed to roll out the regime from July 1.

The four supplementary Goods and Services Tax (GST) legislations - Central GST Bill, 2017; the Integrated GST Bill, 2017; the GST (Compensation to States) Bill, 2017; and the Union Territory GST Bill, 2017, were passed earlier this week by the Lok Sabha.

Here are the updates-

# 2:05 PM

-Arun Jaitley moves GST bill for discussion

# 11:19 AM

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"All the four supplementary GST legislations will be taken up for discussion in Rajya Sabha in the next week and most likely on Wednesday," Parliamentary Affairs Minister Ananth Kumar had said.

Last week, Jaitley had said the Council gave approval to amending the five rules on registration of entities under the GST regime, filing of returns, payment of tax and refund, invoicing and debit and credit notes in consonance with the GST law approved by Parliament this week.

Also Read: Revenue department extends GST registration deadline for dealers till April-end

The panel headed by Finance Minister Arun Jaitley will meet again on May 18-19 in Srinagar to finalise the rates of different commodities and services as also to approve the remaining ones.

The minister had added that he expects support from all parties forpassage of this landmark bill. To block its passage, both Congress and TMC are likely to move amendments in the upper house. But the government is keen on early passage of this billas they want to roll out the new indirect tax regime from July1.

Also Read: Finance ministry places 8 sets of GST rules in public domain, seeks comments